Two-Family Brick Residence with Private
For Sale
$1,850,000
1735 70th St, Brooklyn, NY 11204
Three-story 2-family brick home with private driveway and built-in garage, offering flexible unit layouts.
Property Size3,940 SF
Days on Market54
Property Features for 1735 70th St
General Information
Standard status
Active
Size
3,940 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,444
Building Details
Building Size
3,940 SF
Year Built
1956
Stories
3
Listing Agency:
REMAX EDGE
(718) 612-3088
Listed By:
Jason Zhou · License #10301217017
(718) 612-3088
Source:
Elliman
Added: Jul 4
Changed: Aug 11
Last Checked: Aug 25 at 11:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REMAX EDGE
Investment Insights
Based on property information with market context.
This rare 2-family brick residence offers three stories above grade plus a basement, with a private driveway and built-in garage. Built in 1956, the building is configured for flexible living, with the top floor featuring an oversized 3-bedroom layout that can be converted into a 4-bedroom. The middle floor is a spacious 2-bedroom plan that can be converted into a 3-bedroom, along with a front porch and rear deck.
The basement includes its own separate entrance, a built-in front garage, two additional rooms, and a spacious recreation room. It also provides a laundry area, abundant storage, and rear access to the backyard, supporting convenient day-to-day use.
Located in the heart of Bensonhurst, the property is positioned near shopping, restaurants, schools, parks, and public transportation. For buyers and tenants looking for a multi-unit home with adaptable bedroom configurations and useful space outside the primary apartment floors, this layout offers clear options across both levels above grade and the basement.
The basement includes its own separate entrance, a built-in front garage, two additional rooms, and a spacious recreation room. It also provides a laundry area, abundant storage, and rear access to the backyard, supporting convenient day-to-day use.
Located in the heart of Bensonhurst, the property is positioned near shopping, restaurants, schools, parks, and public transportation. For buyers and tenants looking for a multi-unit home with adaptable bedroom configurations and useful space outside the primary apartment floors, this layout offers clear options across both levels above grade and the basement.
Key Highlights
- 2‑family brick home built in 1956 with 3 stories above grade plus a basement
- 20' x 60' building size on a 20' x 100' lot
- Top floor: oversized 3‑bedroom apartment with potential to convert to a 4‑bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$137,985
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,759,700
$2.8M
Cap Rate 7%
$1,971,214
$2.0M
Cap Rate 9%
$1,533,167
$1.5M
Market Conditions
NOI Build-Up for 3,940 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$200.9K $51.00/SF
− Vacancy
−$3.8K −$0.97/SF
EGI
$197.1K $50.03/SF
− OpEx
−$59.1K −$15.01/SF
NOI
$138.0K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,759,700
Cap Rate 7%
$1,971,214
Cap Rate 9%
$1,533,167
Alternative Uses
Best Use
Multifamily LT 5
$1.97M
$1.72M – $2.30M
NOI $137,985 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,284 @ 7.0% cap · market cap 6.50%
Theoretical Best
Specialty Retail
$3.26M
$2.85M – $3.81M
NOI $228,362 @ 7.0% cap · market cap 12.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 11204, NY
85,885
Population
27,498
Households
3.1
Avg Household Size
34
Median Age
30%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
53,678
Density / Sq Mi
$67,588
Median Household Income
$33,461
Median Earnings
$1,751
Median Rent
$1,097,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Three-story 2-family brick home with private driveway and built-in garage, offering flexible unit layouts.
Where is this duplex located?
The property is located at 1735 70th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 2‑family brick home built in 1956 with 3 stories above grade plus a basement; 20' x 60' building size on a 20' x 100' lot; Top floor: oversized 3‑bedroom apartment with potential to convert to a 4‑bedroom
